Cerity Partners LLC Sells 13,590 Shares of Regions Financial Corporation (NYSE:RF)

Cerity Partners LLC lessened its position in shares of Regions Financial Corporation (NYSE:RF - Free Report) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 497,075 shares of the bank's stock after selling 13,590 shares during the period. Cerity Partners LLC owned about 0.05% of Regions Financial worth $10,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Regions Financial by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 23,028,497 shares of the bank's stock worth $540,284,000 after buying an additional 403,283 shares during the last quarter. First Trust Advisors LP raised its position in Regions Financial by 7.7% during the fourth quarter. First Trust Advisors LP now owns 17,053,457 shares of the bank's stock worth $401,097,000 after acquiring an additional 1,224,645 shares in the last quarter. Invesco Ltd. lifted its stake in Regions Financial by 14.5% in the fourth quarter. Invesco Ltd. now owns 15,468,674 shares of the bank's stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during the last quarter. Norges Bank bought a new position in shares of Regions Financial in the 4th quarter valued at about $279,103,000. Finally, Northern Trust Corp increased its stake in shares of Regions Financial by 14.8% during the 4th quarter. Northern Trust Corp now owns 9,658,858 shares of the bank's stock worth $227,176,000 after purchasing an additional 1,247,882 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company's stock.

Regions Financial Trading Down 2.9%

RF stock traded down $0.71 during mid-day trading on Tuesday, reaching $24.00. The company's stock had a trading volume of 12,049,144 shares, compared to its average volume of 8,356,119. Regions Financial Corporation has a 12 month low of $17.74 and a 12 month high of $27.96. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.36. The business's 50 day moving average price is $22.48 and its 200 day moving average price is $22.38. The company has a market cap of $21.57 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98.

Regions Financial (NYSE:RF - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.84 billion. Regions Financial had a return on equity of 13.04% and a net margin of 21.43%. During the same quarter in the previous year, the business earned $0.37 EPS. On average, equities research analysts predict that Regions Financial Corporation will post 2.26 EPS for the current year.

Regions Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, May 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.00 annualized dividend and a dividend yield of 4.17%. Regions Financial's payout ratio is currently 48.08%.

Analysts Set New Price Targets

RF has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of Regions Financial from $26.00 to $24.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price target on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on shares of Regions Financial from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group reduced their price objective on Regions Financial from $28.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen raised Regions Financial from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Regions Financial has a consensus rating of "Moderate Buy" and an average price target of $26.15.

About Regions Financial

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.